Financial Conduct Authority (FCA), Code of Conduct, Employee Misconduct

New FCA Rules on Non-Financial Misconduct

WilmerHale on 7/9/2025

Last week, the FCA published its long-awaited policy statement containing amendments to the FCA’s Code of Conduct (“COCON”) aimed at combatting non-financial misconduct (“NFM”). NFM can amount to a breach of FCA rules in any...more

FCA Non-Financial Misconduct Rules: Private Fund Managers, Fintechs, and Other Non-Banks Firmly in Scope

Goodwin on 7/8/2025

In a previous alert, “FCA D&I Standards for Large Firms Abandoned (for now), Non-financial Misconduct Rules Delayed (but Still Important),” we discussed the proposals put forward by the UK Financial Conduct Authority (FCA)...more

The Long-Awaited FCA Paper on Non-financial Misconduct – Was It Worth the Wait?

BCLP on 7/7/2025

On 2 July 2025, the FCA published a further consultation paper on “tackling non-financial misconduct in financial services”. The industry has been eagerly awaiting publication of this paper, in the hope that it will address...more

FCA Sets Out Next Steps on Its Approach to Non-Financial Misconduct

Latham & Watkins LLP on 7/3/2025

On 2 July 2025, the FCA published its long-awaited proposed next steps on addressing non-financial misconduct (NFM) in financial services. In a joint Consultation Paper and Policy Statement (CP25/18), the regulator is...more

D&I in FS: new rules and guidance on non-financial misconduct

A&O Shearman on 12/13/2023

The FCA is focused on reducing non-financial misconduct to enhance the reputation of the UK financial services sector. Spurred on by positive levels of engagement with its 2021 discussion paper, the FCA’s latest consultation...more

Not so 'plain and simple': the new draft FCA rules for non-financial misconduct

Mayer Brown on 12/11/2023

In 2018, the UK's Financial Conduct Authority ("FCA") stated publicly that "non-financial misconduct is misconduct, plain and simple", emphasising their view that the Conduct Rules applicable to most employees within...more